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CUDL, GTE Federal Credit Union Sign New Partnership Agreement

Contact: Bill Meyer
CU Direct Corporation
909.481.2360
bill.meyer@cudl.com

Ontario, CA, September 22, 2010 ¾  CUDL (www.cudl.com), the nation’s leading indirect and point-of-purchase auto lending solutions CUSO, and administrators of the nation’s largest auto lending network for credit unions, has announced a new partnership agreement with Tampa, Florida-based GTE Federal Credit Union.

The agreement between GTE FCU and the CUSO makes possible the integration of the credit union’s back-office processing and loan origination with CUDL’s national auto lending platform.  The credit union will incorporate CUDL’s products and programs to enhance their line-up of member product offerings and services, and to maximize their process and cost efficiencies.

“Our decision to partner with CUDL was an easy one and is based on our goals to provide a point-of-purchase resource to our members, enhancing our relationship with our members, and further advancing our credit unions ability to retain member loans,” stated Joe Brancucci, President and CEO of GTE FCU.  “We feel that CUDL can help us achieve these goals.  Further, the CUDL model exemplifies exactly what the credit union movement stands for; serving our members.”

GTE FCU serves 180,000 members in the communities of Hillsborough, Pinellas, Polk, Manatee, Sarasota and Citrus counties, including the cities of Tampa, St. Petersburg and Clearwater, and has $1.5 billion in assets. The partnership with GTE FCU further expands CUDL’s growing presence in Florida’s central region.

As a result of the partnership, the credit union will also incorporate CUDL’s dynamic AutoSMART (www.cudlautosmart.com) and SMART Approval programs.  The AutoSMART program and website helps credit union members successfully navigate through the auto research and buying process, while also helping credit unions to extend their brand and member offerings by providing members with a wide-range of online vehicle research tools, as well as access to dealers and their inventories.

The SMART Approval program enables the credit union to provide their members with a simple and convenient online pre-approval application and loan decision, through the credit union’s website, that streamlines the overall loan process, and eliminates member inconvenience of waiting for a loan decision at the dealership.  As a result, credit unions enhance their ability to retain member loans, while also improving the member’s overall auto buying experience.

“We are very excited about the opportunity to partner with GTE Federal Credit Union to help them advance their auto lending programs and overall marketplace success,” stated Jerry Neemann, executive vice president and CSO of CUDL.  “Our commitment is to provide our credit union partners with the most complete and comprehensive solutions available to help them achieve their auto lending success, and ultimately to help them have a true competitive advantage in the auto lending marketplace.”

 

 

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About CUDL

Based in Ontario, California, CUDL® (a CU Direct Corporation brand) is the leader in indirect and point-of-purchase lending services for the credit union industry.  As a Credit Union-owned Service Organization, CUDL develops custom applications, training and marketing programs to help credit unions achieve their indirect vehicle lending goals.

More than 850 credit unions and 6,400 dealerships nationwide rely on CUDL’s national lending network to better serve members’ vehicle shopping needs and drive member financing at the point-of-purchase.  For more information about CUDL visit www.cudl.com and www.cudlautosmart.com.


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